PRESS DIGEST - China - June 30

SHANGHAI, June 30 (Reuters) - Chinese newspapers available in Beijing and Shanghai carried the following stories on Monday. Reuters has not checked the stories and does not vouch for their accuracy.

CHINA SECURITIES JOURNAL

- China urgently needs to launch a deposit insurance system to help its interest rate reforms, says a report.

- The current corrective period in China's housing market is not likely to end soon, says a commentary.

CHINA BUSINESS NEWS

- Reports that the United States has reached agreements with 86 countries to investigate tax payments of U.S. citizens outside the country will help China's anti-corruption campaign.

- The Chinese government has started deploying eight inspection teams across the country to investigate how regional governments are implementing central policies and will hold accountable those found wanting.

SHANGHAI SECURITIES NEWS

- Many Chinese mutual funds believe that China's stock market is likely to walk out of years of weakness in the second half of this year, partly driven by official efforts to reform the country's capital markets.

CHINA DAILY

- China, the largest contributor of personnel to U.N. peacekeeping, will provide more expertise and training to fight against crime on top of its traditional role of maintaining order and security.

PEOPLE'S DAILY

- Hong Kong must abide by Chinese laws related to the Hong Kong Special Administrative Region, the newspaper said in a commentary after Hong Kong lawyers protested against what they see as Chinese interference on Friday. For Hong Kong and South China newspapers see..... (Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)